Wealth and asset manager Pictet has launched a fund which invests solely in 500 of the world's listed family-controlled businesses.

Pictet argued that such businesses tend to perform better, due to the fact that they had a longer-term outlook and wanted to protect the business for the next generation.

Such firms also tended to have “socio-emotional wealth skin in the game” – companies reflected a family themselves and their reputation making them more engaged owners.

“[Family businesses] tend to outperform the broader global equity market and display distinctive management styles which are attractive t...